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Intangible Assets | 9 Months Ended
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Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Intangible Assets | NOTE 6. INTANGIBLE ASSETS Intangible assets consist of the following:
(dollar amounts in thousands) |  | Estimated useful life in years |  | September 30, 2020 |  |  | December 31, 2019 |
Trade name |  | Indefinite |  | $ | 5,871 |  |  | $ | 5,871 |
Customer relationships |  |  | 11 |  |  | 10,644 |  |  |  | 10,644 |
Non-compete agreements |  |  | 5 |  |  | 157 |  |  |  | 157 |
|  |  |  |  |  | 16,672 |  |  |  | 16,672 |
Less accumulated amortization |  |  |  |  |  | (9,505 | ) |  |  | (9,338 | )
|  |  |  |  | $ | 7,167 |  |  | $ | 7,334 |
The Company assesses potential impairment of its goodwill and intangible assets when there is evidence that events or circumstances have occurred that would indicate the recovery of an asset’s carrying value is unlikely. The Company also assesses potential impairment of its goodwill and intangible assets on an annual basis regardless of whether there is evidence of impairment. If indicators of impairment were to be present in intangible assets used in operations and future discounted cash flows were not expected to be sufficient to recover the asset’s carrying amount, an impairment loss would be charged to expense in the period identified. The amount of an impairment loss that would be recognized is the excess of the asset’s carrying value over its fair value. Factors the Company considers important, which may cause impairment include, among others, significant changes in the manner of use of the acquired asset, negative industry or economic trends, and significant underperformance relative to historical or projected operating results. In response to the COVID-19 pandemic, the Company last conducted a qualitative analysis of its goodwill and intangible assets in the first quarter 2020 and determined that no impairment triggering event had occurred. Intangible assets with finite useful lives are amortized over their respective useful lives. Based on the carrying values at September 30, 2020 and assuming no subsequent impairment of the underlying assets, the amortization expense is expected to be $0.1 million for the remainder of fiscal year 2020, and $0.2 million in 2021 through 2026.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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